The wreckage of Rescue 116 has been located on the Eastern side of Black Rock Island off the Co Mayo coast.
Footage taken by a remotely operated vehicle show the Coastguard helicopter is lying on the sea bed at a depth of around 40 metres.
It's now hoped the bodies of the three missing crew will be found in the wreckage.
The Chief Inspector of Air Accidents Jurgen Whyte has been outlining the plans:
Declan Geoghegan of the Irish Coastguard says they will decide what happens next when they have examined the footage in full.
